LG is apparently planning to launch a mobile payment service dubbed G Pay in the US and South Korea

LG is apparently planning to launch a mobile payment service dubbed G Pay in the US and South Korea
According to a new report from LG's home market of South Korea, LG is developing its own mobile payment platform to compete against rival offerings from Samsung, Google, and Apple. 

It was recently discovered that LG has applied to register the G Pay trademark in both South Korea and the US. While registering a trademark doesn't always lead to a product launch, this info does to suggest that LG's upcoming mobile payment platform will eventually land in the United States, although nothing can be confirmed at this pint.

The report says that, starting earlier this year, LG has been studying rival offerings while also "sharing information" with credit/debit card companies. 

Quoting unnamed sources close to the matter, the report notes that LG will develop its payment service with an enhanced focus on versatility. Unfortunately, more specific details on how LG plans to achieve this were not shared, although compatibility with non-NFC payment terminals - à la Samsung Pay - is not to be excluded.

A few months ago, unofficial sources claimed that LG is planning to bet big on fingerprint recognition systems, and this was partially confirmed by the fact that both the LG Nexus 5X and the LG V10 come with back-mounted fingerprint readers. At the time, it was believed that the company plans to embark the Android Pay bandwagon, but it now looks like the company plans to offer its proprietary payment platform in the future.

What do you guys think? How could a mobile payment service be even more versatile than Samsung Pay, a service that works with both NFC and magnetic stripe payment terminals?

source: ETNews via GforGames


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37 Comments

1. Tziggy14

Posts: 624; Member since: Sep 02, 2014

LG is wasting their time in this space. The only reason Samsung could do this is because of their strong brand recognition and they sell more phones than any Android OEM combined. And Apple and Android Pay support a lot more phones with their platforms. What unique quality does G Pay have to stand out?

3. Shocky unregistered

Agreed, this is a waste of time for LG. They don't have enough influence, might be tricky to even get support.

4. kick413

Posts: 162; Member since: Sep 16, 2012

Exactly what I was thinking. Apple, Android, and Samsung are the only real players in this area.

5. roldefol

Posts: 4744; Member since: Jan 28, 2011

LG, please concentrate on making your phones the best they can be and your UI more competitive. Then when you have great market share and name recognition, we can talk about services. Thank you.

9. bubbadoes

Posts: 1225; Member since: May 03, 2012

Samsung pay days are numbered also. No need for each separate manufacturer to implement it's own payment system. Google already has a payment system (Android Pay) for Android os and Apple pay has it's own thing for ios devices--now Samsungs adds even more bloat to the OS with Samsung pay. No need for LG, HTC, Motorola, Samsung and all others to flood the market with these payment systems that are DOA! Tziggy

11. TheWeasel

Posts: 403; Member since: Dec 26, 2014

Except Samsung Pay is way better and more practical and useful than Apple or Android Pay.

12. roldefol

Posts: 4744; Member since: Jan 28, 2011

Samsung seems to think it knows better than everyone else. Samsung Pay, Samsung Apps, Samsung retail stores. You're not Apple, guys. We use Android through you, not because of you. As for LG, well, you're not even Samsung.

24. TechieXP1969

Posts: 14967; Member since: Sep 25, 2013

Seeing that Samsung is the leading Android seller, I would say Samsung is the OEM that put Android on the map, because they got more readily available phones in more markes vs any android OEM. In fact, Samsung has products in more countries than Apple and all the Android OEM.s

34. roldefol

Posts: 4744; Member since: Jan 28, 2011

In no way did Samsung put Android on the map. Motorola (Droid) and HTC (EVO, Incredible) put Android on the map. Samsung made a big splash with the Galaxy S, but they didn't become the juggernaut they are today until the S3 in 2012.

15. Neros

Posts: 1016; Member since: Dec 19, 2014

Android pay is a fkin joke. Google were ahead of everyone and yet no one had cared about mobile payments until apple introduced apple pay.

26. TechieXP1969

Posts: 14967; Member since: Sep 25, 2013

Andrpoiod Pay is equal to Google Wallet. What is the problem with changing the name? Android Pay works on any Android which is an advantage. Samsung Pay has the most widespread capability, but limited to less models of phones which will define how many can use it. Apple App is also confined to specific models and the fact its limityed because there are less retailers able to accept Apple Pay vs how many banks have signed up with Apple Pay. While Google Wallet works with most anyones debit card. Samsung Pay is limited because it has less models, but works in more places because it doesnt require a specific terminal. As long as the card reader has a swipe reader, Samsung Pay will work, while the others require NFC which has its own limiting number of avauilable retailers. The only retailers so far that I have seen with NFC readers is McDonald's and Walgreen's. So far I've been able to use my Samsung Pay everywhere except gas pumps and ATM's. because those machines require you to swipe the card first before they work.

23. TechieXP1969

Posts: 14967; Member since: Sep 25, 2013

Bloat...really? SO it isn't bloat on iOS? Idiot.

32. zeeBomb

Posts: 2318; Member since: Aug 14, 2014

LG work on your ux a little more than this, will ya?

10. natypes

Posts: 1110; Member since: Feb 02, 2015

Oh yeah, I'm making an app that spits out money for you to pay with.

13. roldefol

Posts: 4744; Member since: Jan 28, 2011

On a dot matrix printer, right?

14. B-power

Posts: 258; Member since: Feb 22, 2014

Do you have to go to G spots to use it? :P

17. DRS1977

Posts: 679; Member since: May 27, 2015

Android Pay and Apple Pay are all failures compared to Samsung Pay which works at 90% of places. LG's will be a failure as well.

18. cncrim

Posts: 1586; Member since: Aug 15, 2011

We can't judge until we see the product, innovation involve failure.

19. Ninetysix

Posts: 2962; Member since: Oct 08, 2012

Are you kidding me? LOL. Samsung pay only works with like 5 banks vs 500+ for Apple Pay (USA). http://www.samsung.com/us/samsung-pay/ https://support.apple.com/en-us/HT204916

22. TechieXP1969

Posts: 14967; Member since: Sep 25, 2013

Supporting banks is one thing, supported retailers is another. Only 10% of retailers accept NFC which was the issue with Google Wallet. Samsung Pay is better because it works with 90% of retailers, you only catch is a support card. So having more banks in this case for Apple isnt a winner BUMMY. Learn to read. Apple Pay is suppoort by 10% of merchants, which it doesn't work at the vast majority of merchants, while Samsung Pay works at everything except gas pumps and ATm machines. I have an AMEX, because you know; I'm rich. So my card is accepted at all 90% of retailers. Its only those small mom and pop stores who dont take AMEX. Samsung will soon have just as many banks. It takes time for a 2 month old service to catch up. But here is where we have the advantage. Samsung Pay works with any terminal at retailers whether they are NFC or not. All we have to do is get the banks to allow their cards into the system which won't take long. Wake up fool. Both companies have the exact same isse from from a different side. Apple problem is not enough accepted locations, Samsung's issues is gettign more banks involved. Samsung Pay is much easier to add banks which costs NOTHING vs trying to get a retailer with 1000 stores to buy 1000's of NFC terminals. It's those details you don't look at which makes you Apple fans so stupid.

27. Ninetysix

Posts: 2962; Member since: Oct 08, 2012

I have Amex, Discover, Chase, and a credit union you peasant. All supported by Apple pay. While Samsung is adding one bank a month, merchants are upgrading their terminals to support NFC since you know..it's the future. Which Samsung devices have looppay again? You're the minority here brosephine when it comes to mobile payments.

36. iushnt

Posts: 3086; Member since: Feb 06, 2013

So good for u. Someone who is using Samsung Pay through the supported banks are even lucky as now they are more widely accepted. If I was in US I would have applied for a new credit card from the bank that Samsung Pay supports because it's just great..

20. bubbadoes

Posts: 1225; Member since: May 03, 2012

plz name some places samsung pay is used. Drs

28. TechieXP1969

Posts: 14967; Member since: Sep 25, 2013

So far I have used Samsung Pay at the following chain retailers: Wal-Mart, Walgreen's, Costco, McDonald's, Jewel/Osco, Foot Locker, Red Lobster, Home Depot, Lowe's, Pete's Produce, Target, Starbucks, T-Mobile, AT&T, Verizon, Shell/BP (inside; not at the pump), soda machines that accept cards, toll booths, All of Disney Parks/Water parks, 7-Eleven, Ace Hardware, Six Flags, Busch Gardens, Chili's, AMC, Sony Regal and mom and pop stores that take American Express and several non-chain restaurants around the Chicago Area. The only place I have gone and not used it was gas pumps and ATM.

29. TechieXP1969

Posts: 14967; Member since: Sep 25, 2013

Based on my experience, the only places I have seen NFC readers are McDonald's and Walgreen's. Which means based on the places I frequent, I wouldn't be able to use Apple Pay.

33. DnB925Art

Posts: 1167; Member since: May 23, 2013

Any place that uses swipe readers (except ATMs and gas pumps). In the 3 days I have used it, I have used it at: Taco Bell (no NFC reader) Little Caesar's Pizza (no NFC reader) Safeway (no NFC reader) Philz Coffee (no NFC reader) Local Korean mom and pop restaurant (no NFC reader) My kid's book faire at school today (Verifone swipe with no NFC) McDonald's (only one with NFC reader that I have used since Saturday). Samsung Pay is accepted at MORE places than Apple or Android Pay.

21. TechieXP1969

Posts: 14967; Member since: Sep 25, 2013

Banks are not going to support all these pay services. It's simply just to much work. Either these OEM's will need a solution that works with existing terminals or just dont make anything. Everyone should just license the use of Samsung Pay since it is the only service which works with NFC and MagStrip.

30. TechieXP1969

Posts: 14967; Member since: Sep 25, 2013

Apple Pay - Advantage, has more banks signed up. Disadvantage - only 10% of retailers accept it. Samsung Pay - Advantage, works with any reader that allows swiping and NFC. Disadvantage - Not enough banks onboard yet. Android Pay/Google Wallet - Advantage, allows usage of many bank debit cards and Discover. Disadvantage - Only works with NFC which again has only 10% retailers involved. Once Samsung gets more banks in the network, the other 2 are going to die until retailer s buy NFC equipment. if they don't Apple pay will be stuff at 10%.

37. fyahking

Posts: 1146; Member since: Jan 28, 2015

Ggggggg unit!

* Some comments have been hidden, because they don't meet the discussions rules.

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